For reasons that continue to elude me, leaders of most organizations still do not realize that succession planning involves much more than succession. In my opinion, these are the key points to keep in mind.

1. Actively recruit for the talent, skills, temperament, and experience that you will need next (perhaps soon) but hire only those who also embrace the organization’s values.

2. Upon assuming a new position, the person hired for it or promoted to it should immediately groom a high-potential successor.

3. If that person doesn’t develop, groom another.

4. So-called “indispensable” people become bottlenecks. If they refuse to comply with #1 and/or #2, replace them. Fast.

5. Knowledge transfers (especially concerning skills and competencies) in the workforce community must be constant.

At any given time, there should be at least 2-3 well-qualified candidates to fill each position.

Recommended Readings

These are arguably the best but their cost may be prohibitive:

Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within
William J. Rothwell

Linkage Inc.’s Best Practices in Succession Planning (Essential Knowledge Resource)
Linkage Inc.

Building Tomorrow’s Talent: A Practitioner’s Guide to Talent Management and Succession Planning
Doris Sims and Matthew Gay

I also think highly of these less expensive sources:

Growing Great Employees: Turning Ordinary People into Extraordinary Performers
Erika Andersen

The 30-Minute Guide To Talent And Succession Management: A Quick Reference Guide For Business Leaders
Doris Sims

One Page Talent Management: Eliminating Complexity, Adding Value
Marc Effron and Miriam Ort